Yesterday, the Slovenian government endorsed the concept behind the sloESOP Act. 🙌 The Employee Ownership Cooperative Act - the sloESOP Act - is based on the policy proposal produced by the Inštitut za ekonomsko demokracijo. The Act will introduce the Cooperative ESOP model designed based on the experience in the USA (1974), the UK (2014), Canada (2024), and soon in Denmark. The legislation will address a number of existing barriers and provide a fiscal incentive to establish sustainable broad-based employee ownership in businesses. We expect the support for ESOPs leading to widespread use of the model in the Slovenian economy. Interestingly, in the UK, employee buyouts through the EOT model became the second most popular choice for exiting owners last year, just after the PE buyouts, overtaking family succession. 🤞 We hope the government will continue the efforts and pass the sloESOP Act by the end of 2024. https://lnkd.in/dP9zi3wE
Congrats Tej Gonza and team! We know how hard it is to get new legislation and each successful step is a reason for celebration! 🎉
Yeah, I mean that GST exempt is a big influence. Good on the UK for establishing a really good incentive to promote Employee Ownership, I'm sure this will help UK generations to come. 🙌
A bodo delavci v Livarni Maribor končno kupili podjetje in ga rešili?
Thanks for sharing
Senior Sustainable Finance Advisor at ChemSec
5moFantastic work Tej! Do you have a source for the UK employee buyout fact (it being second to PE)?